Guess Who Picked Echo Global Logistics Inc. (NASDAQ:ECHO) Shares

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In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Echo Global Logistics Inc. (NASDAQ:ECHO) reported that Luminus Management has picked up 1,869,181 of common stock as of 2017-08-04.

The acquisition brings the aggregate amount owned by Luminus Management to a total of 1,869,181 representing a 6.55% in the company.

For those not familiar with the company, Echo Global Logistics, Inc. is a provider of technology-enabled transportation and supply chain management solutions. The Company utilizes a technology platform to compile and analyze data from its multi-modal network of transportation providers to facilitate its transportation and logistics services. The Company focuses primarily on arranging transportation by truckload (TL) and less than truckload (LTL) carriers. It also offers intermodal (which involves moving a shipment by rail and truck), small parcel, domestic air, expedited and international transportation services. The Company’s core logistics services include rate negotiation, shipment execution and tracking, carrier selection and management, routing compliance freight bill payment and audit, payment and performance management and reporting functions.

A glance at Echo Global Logistics Inc. (NASDAQ:ECHO)’s key stats reveals a current market capitalization of 422.31M based on 28.53M shares outstanding and a price at last close of $14.80 per share.

Looking at insider activity, there are a few recent transactions worth noting.

Specifically, on 2013-03-22, Walter picked up 22,957 at a purchase price of $$20.97 per share.This brings their total holding to 116,611 as of the date of the filing.

On the sell side, the most recent transaction saw Menzel unload 10,000 shares at a sale price of $19.48. This brings their total holding to 153,141.

It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Echo Global Logistics Inc. (NASDAQ:ECHO) as things move forward to see if its progress aligns with these transactions. Subscribe below and we’ll keep you on top of what’s happening before it moves markets.